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Puerto Vallarta News NetworkPuerto Vallarta Real Estate 

MEXlend Explains Proposed Changes to Article 27

May 10, 2013

For nearly a century, foreigners have been unable to hold the deed to land near Mexico’s shoreline. Last month, the lower house of Mexico's congress voted to loosen foreign land ownership restrictions.

Puerto Vallarta, Jalisco, Mexico - On May 14, 2013, No Way José! will host a real estate conference led by MEXlend CEO, Terence L. Reilly, where he will explain the proposed changes to Article 27 of Mexico's constitution, which currently limits foreign ownership of land along the coastal and border regions, and how it will effect foreign investments.

Now, change is in the air, and it could save money for thousands of American retirees and other foreigners who want to buy their piece of paradise in Mexico. The measure, which passed 356-119 in the Chamber of Deputies late last month, still needs approval from the Senate and a majority of the country's 32 state legislatures to become law.

A modification to the law would increase home ownership by foreigners, and thus increase the municipal government's base of collecting property tax. The motion in itself is a gesture to the world that things have changed with respect to Mexico's attitude to foreign investment in Mexican real estate.

Join us next Tuesday, May 14th at 2:15 pm at No Way José! Restaurant, as Terence Reilly, the CEO of Mexico's Leading Residential Mortgage Broker, explains the details of such changes and the resulting investment opportunities that could be created for foreign investors by the simplification of Mexico's property ownership laws. Admission is free.

Source: Puerto Vallarta Grupo Empresarial Gay

Are you looking to purchase vacation or investment property in Mexico? To discover which one of the many mortgage loan options that MEXLend offers is right for you, visit MexLend.com or MexLend.com.mx, call (322) 222-7377 in Vallarta, toll-free at 1.800.3.Mi.Casa in Mexico or (917) 779-9061 from the US or Canada.

To learn more about MEXlend, click HERE.

Named the "Best Moderate" and "Best Service" Restaurant in Banderas Bay in Vallarta Lifestyles' 2012 Readers Choice Awards, No Way José! is located on the south side of downtown at 5 de Febrero #260, just over the Vallarta street bridge on your left. Open Tues-Sun from 4:00 to 11:30 pm, reservations can be made by calling (322) 223-2853 or by emailing reservations(at)nowayjosemx.com. For more information, visit NoWayJoseMx.com.

Click HERE to learn more about No Way José!